Essential Oils Market Size, Share, Growth Analysis, By Sales Channel(Direct selling and others), By Application(Medical, food & beverages, spa & relaxation), By Region - Industry Forecast 2024-2031

In 2021, Europe had the largest revenue share (43.3%) in the global market. This is due to the region's large population and several undiscovered markets, which are anticipated to draw the attention of major players that will grow and create operations and distribution centers there. The expansion of the sector in Europe has benefited from the existence of groups like the European Federation of Essential Oils (EFEO). EFEO was established to advance and defend the interests of all parties involved in the market value chain. To change or create legislation pertaining to essential oils, the group is in dialogue with both the EU Parliament and the European Commission. Such factors have helped the region's market to grow. The dominant market position held by Europe in this sector is mostly due to the ease of obtaining feedstock and the presence of numerous industry players. Key end-user sectors are developing as a result of numerous reasons, including early developed economies and the increased level of living.

Asia Pacific countries such as India, China, and Indonesia are industry pioneers and have emerged as the world's leading exporters of some of the world's most valuable oils and extracts such as champagne extract, jasmine extract, davana oil, frankincense oil, sandalwood oil, spice oils, and so on. The favorable agricultural weather, the affordable labor force, and the plentiful supply of raw materials are just a few of the elements that are propelling the expansion of industry in this region.